deduction of TDS
This query is : Resolved
11 April 2008
my query is that if someone pays charges to a college for using their class room for conducting the exams on bi-monthly basis and had a agreement with them.
whether the payment made will be treated as rent and TDS has to be deducted on crossing 1.20 lakh limit or it will be treated as contract and 20 thousand will be the limit.
please advice.
whether the payment made will be treated as rent and TDS has to be deducted on crossing 1.20 lakh limit or it will be treated as contract and 20 thousand will be the limit.
please advice.
11 April 2008
It will be treated as contract and TDS will be deducted under section 194C.
11 April 2008
if the agreement( which queriest says available) or the understanding is clear that the usage is for premises and consideration is rent then, rent will be subject to tds under sec 194 I(EXEMPTION LIMIT RS. 1.2 LAKHS P.A).
Otherwise sec. 194 c applies and TDS @2% for contract applies.
R.V.RAO
Otherwise sec. 194 c applies and TDS @2% for contract applies.
R.V.RAO
11 April 2008
194C, no scope for application of sec 194I
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR returnFY25-26
- BIS Certificates
- Itr 1 processing
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
